SolGold’s strategy to become a tier 1 copper and gold producing company through aggressive exploration is continuing to yield exciting results. Initial exploration of SolGold’s 72- regional concessions, across Ecuador, is nearing completion. Based on the results of this initial exploration, a list of 10 priority targets have been identified for second phase exploration.

Ecuador is located on the gold rich section of the northern Andean Copper Belt and is renowned as the production base for nearly half of the world's copper (Figure 1). Large copper gold deposits of similar age elsewhere in the Andes include Escondida, El Salvador, Collahuasi, Chuquicamata and Alpala - Solgold’s 85% owned Cascabel project.

Ongoing exploration will focus on advancing these priority projects, through geophysical surveys and detailed soil geochemistry, with a view to progress to drill testing as soon as permissions are in place. All of the 10 projects are held within the Company’s 100% owned subsidiaries: Carnegie Ridge Resources, Green Rock Resources, Cruz Del Sol S.A. and Valle Rico Resources.

The 10 priority projects are:

Blanca Nieves;

Rio Armarillo;

Cisne Loja;

Porvenir;

Timbara;

Chillanes;

Salinas;

Sharug;

La Hueca; and

Cisne Victoria.

The Company has already announced exciting initial results from the Blanca Nieves, La Hueca and Porvenir projects and positive results continue to be returned.